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Eddisons Auction Proceeds Top £5,000,000

Written by: Richard Roe on Monday 20/10/2014

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Eddisons sold 52 lots at its recent sales in London, Manchester and Leeds, which generated proceeds of over £5,000,000.

The best performing lot was a freehold office investment near Leeds city centre which sold for £550,000.

Bank House on Roundhay Road is let to a charity until 2019 and produces rental income of £60,000 per annum. It went under the hammer at the London leg of the firm’s three day sale at a guide price of between £425,000 and £475,000.

Meanwhile, two tenanted industrial units in Worsley, near Manchester achieved £500,000. The units on the Wardley Industrial Estate produce annual rent of £65,000.

Elsewhere, a vacant former nursery premises in the Bootle area of Liverpool which had been offered at a guide of £125,000 plus, sold for £180,000.

In Morecambe, a part tenanted commercial/residential opportunity producing £38,260 per annum, went for £250,000.

Other highlights included a tenanted café in the Armley area of Leeds producing annual rent of £10,000, which sold for £151,500. The guide price was between £110,000 and £120,000.

In nearby Kirkstall, a vacant four bedroom semi-detached property arranged over three floors achieved £130,000. It had been offered on the instructions of a deceased estate at a guide of £95,000 to £100,000.

The firm is now preparing for its last round of auctions of the year. This includes dates in London (December 4) and Manchester (December 9), with the curtain finally coming down on the 2014 programme in Leeds on December 11.

Tony Webber, Director and Auctioneer at Eddisons said: ‘This really is the last chance for vendors who are looking for a quick property sale. We are closing the catalogue on November 3 so it is important they get in touch as soon as possible.’

Written by: Richard Roe on Monday 20/10/2014

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About the author

Richard joined Eddisons in 2003 and has been the Managing Partner since 2012, a role that sees him lead the strategic direction and development of the business under the ownership of Begbies Traynor Group plc. Richard has been instrumental in the growth of the business which has seen turnover more than double since 2008.

In addition to his role as Managing Partner, Richard continues to play a vital role with key clients, particularly in the banking sector, where he is a trusted adviser to major high street clearing banks. Over the last eight years, Richard has been appointed LPA Receiver on many high profile properties and assists in the recovery of distressed loan portfolios.

Prior to joining Eddisons, Richard worked in the real estate division of a 'Big Four' firm where his notable assignments included the privatisation of Saudi Telecom for flotation on the New York Stock Exchange.

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